April 7th, 2022: SP-500 Chart Update
Posted by pugsma on April 7, 2022
4:55 pm EST: The SP-500 opened flat from 4481, dropped to 4450 (day’s low), rallied to 4521 and closed at 4500.
Technical Indicators: See the SP500 vs NYMO vs VIX Chart Link: Print SharpCharts from StockCharts.com
Wave Counts: The primary (white/green) count is 55% probable, the alternate (blue) count is 30% probable, and the alternate (red) count is 15% probable.
- The primary (white/green) count is that P2-C3 bottomed at 4115. The major [1] of P3-C3 wave up is underway, but in the very early stages. The minor 1 of major [1] wave reached 4637. The drop to 4450 was the minor 2 wave, that retraced to the 38% Fib area of 4439. The minor 3 wave up is just getting underway. The minor 3 = 1.38*minor 1 target is 5170. Note: This primary (white/green) wave count is valid above 4450.
- The alternate (blue) count variant to the primary count is the minor 2 wave down will corrected deeper to the to the 50%/62% Fib area 4376/4314. Note: The alternate (blue) count is valid above the P2-C3 low at 4115.
- The alternate (red) count is that the P2-C3 wave down is still ongoing. Major [A]-P2 ended at 4115 and the major [B]-P2-C3 topped at 4637. Now the major [C]-P2 wave down is headed toward the 38% Fibonacci retrace of P1-C3 at 3821. There is a major [C]=[A] target at 3933. Note: The alternate (red) count is valid below 4637.
House Keeping: There will not be a blog update on Friday, April 8th. The next update will be on Monday, April 11th.
Have great weekend !
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hr chart:
SP-500 daily chart:
SP-500 weekly chart:
SP-500 monthly chart:
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